Time to Sell Cato Corp (CATO) After The Completion of This Wedge Down Pattern?

September 17, 2017 - By Nellie Frank

Investors sentiment decreased to 1.11 in 2016 Q4. Its down 0.35, from 1.46 in 2016Q3. It worsened, as 15 investors sold Cato Corp shares while 47 reduced holdings. 26 funds opened positions while 43 raised stakes. 20.03 million shares or 2.38% less from 20.52 million shares in 2016Q3 were reported.
Lsv Asset reported 0% of its portfolio in Cato Corp (NYSE:CATO). Barrow Hanley Mewhinney Strauss Ltd Liability Corporation stated it has 25,645 shares. Citadel Advisors Limited Liability Corporation has invested 0% of its portfolio in Cato Corp (NYSE:CATO). Blackrock Ltd has 59,438 shares. Amp Capital Limited invested 0% in Cato Corp (NYSE:CATO). Goldman Sachs Grp Incorporated Incorporated reported 327,556 shares. Bragg Fincl invested 0.32% in Cato Corp (NYSE:CATO). Rhumbline Advisers holds 0% or 58,316 shares in its portfolio. Ahl Ptnrs Limited Liability Partnership has invested 0.01% of its portfolio in Cato Corp (NYSE:CATO). Comerica Fincl Bank has 26,718 shares for 0.01% of their portfolio. Ameriprise holds 0% of its portfolio in Cato Corp (NYSE:CATO) for 283,121 shares. Principal Fin Gp, Iowa-based fund reported 184,829 shares. Invesco stated it has 0% of its portfolio in Cato Corp (NYSE:CATO). Paradigm Asset Management Llc invested in 0% or 3,800 shares. Clinton Gru Inc Inc holds 0.02% of its portfolio in Cato Corp (NYSE:CATO) for 10,239 shares.

Since March 17, 2017, it had 1 insider purchase, and 0 insider sales for $16,760 activity. WEISIGER – JR EDWARD I bought $67,503 worth of Cato Corp (NYSE:CATO) on Friday, March 17.

The stock of Cato Corp (CATO) formed a down wedge with $13.04 target or 4.00 % below today’s $13.58 share price. The 5 months wedge indicates high risk for the $345.46 million company. If the $13.04 price target is reached, the company will be worth $13.82M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.97% or $0.13 on September 15, reaching $13.58. About 532,805 shares traded or 43.74% up from the average. Cato Corp (NYSE:CATO) has declined 41.89% since September 17, 2016 and is downtrending. It has underperformed by 58.59% the S&P500.

More important recent Cato Corp (NYSE:CATO) news were published by: Seekingalpha.com which released: “Cato: Covering The Short, And Hoping For Another Shot” on August 28, 2017, also Streetinsider.com published article titled: “Cato Corp. (CATO) August Same-Store Sales Decline 10%”, Nasdaq.com published: “Cato Corporation (CATO) Ex-Dividend Date Scheduled for September 08, 2017” on September 07, 2017. More interesting news about Cato Corp (NYSE:CATO) was released by: Charlotteobserver.com and their article: “‘All white men’: Charlotte women’s retailer criticized over board makeup” with publication date: May 18, 2017.

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